Motivation as a meaningful construct is a desire to satisfy a certain want and is a central pillar at the workplace. Thus, motivating employees adequately is a challenge as it has what it takes to define employee satisfaction at the workplace. In this study, we examine the relationship between job motivation factors and performance among teachers of basic schools in Ghana. The study employs a quantitative approach on a sample of 254 teachers from a population of 678 in the Effutu Municipality of Ghana, of which 159 questionnaires were duly answered and returned (representing 62.6% return rate). Using multiple regression and ANOVA, the study finds compensation package, job design and environment and performance management system as significant factors in determining teacher’s motivation in the municipality. Thus, these motivation factors were significant predictors on performance when regressed at a decomposed and aggregated levels. These findings support the self-determination theory, more specifically on the explanations advanced under the controlled and autonomous motivation factors. Significant differences were also observed in teachers’ performance among one of the age cohorts. The study urges the municipal directorate of education to make more room for young teacher trainees and interns who are at the formative stage of their careers to be engaged to augment the experienced staff strength. More should be done to make the profession attain some level of autonomy in the discharge of duty to breed the next genre of innovative educators in the municipality.

Purpose: This study explores the effect of income diversification strategy on credit risk and market risk of microfinance institutions (MFIs) in Ghana as an emerging market.Design/methodology/approach: The study is based on quarterly data of averagely 271 MFIs that have operated from 2016 to 2018. The dataset is unbalanced and pooled cross-sectional with 3,259 data points. The study measures the diversification strategy using income diversification indices, and accounting ratios to measure the other variables. We utilised the weighted least squares (WLS) approach to explore the nexus.Findings: The findings show that income diversification is associated with better loan quality and credit risk management. Market risk increases with the level of income diversification of microfinance firms. It is evident that large MFIs can manage their credit risks well and can have a low default rate, depicting an overall U-shaped nexus. On the other hand, the effect of size on market risk is an inverted U-shaped. The effect of asset tangibility on credit risk is positively significant while the effect on market risk is negatively significant. High profitability enhances credit risk management leading to lower loan losses while in the case of diversified and profitable MFIs, they tend to invest more in government securities. The results suggest that MFIs that hold more cash and cash equivalents tend to have high loan loss provision and more government securities suggesting much attention should be paid to optimal cash management.Practical implications: The results throw light on the credit risk and market risk profile of the firms and the effect of diversification strategies on them. The findings are relevant for effective macroprudential regulation, market regulation and prudential regulation of the microfinance sector.Social implications: The findings reveal the nature of income diversification strategy of MFIs in emerging markets such as Ghana, pointing out how they affect the risk exposure of MFIs that lend to the pro-poor population.Originality/value: This is a premier formal assessment of the nexus between income diversification strategies and risk management among MFIs that serve the pro-poor population in the emerging market context.

Purpose: The significant impact of innovation in stimulating economic growth cannot be overemphasized, more importantly from policy perspective. For this reason, the relationship between innovation and economic growth in developing economies such as the ones in Africa has remained topical. Yet, innovation as a concept is multi-dimensional and cannot be measured by just one single variable. With hindsight of the traditional measures of innovation in literature, we augment it with the number of scientific journals published in the region to enrich this discourse.Design/methodology/approach: We focus on an approach that explores innovation policy qualitatively from various policy documents of selected countries in the region from three policy perspectives (i.e. institutional framework, financing and diffusion and interaction). We further investigate whether innovation as perceived differently is important for economic growth in 25 economies in sub-Saharan Africa over the period 1990–2016. Instrumental variable estimation of a threshold regression is used to capture the contributions of innovation as a multi-dimensional concept on economic growth, while dealing with endogeneity between the regressors and error term.Findings: The results from both traditional panel regressions and IV panel threshold regressions show a positive relationship between innovation and economic growth, although the impact seems negligible. Institutional quality dampens innovation among low-regime economies, and the relation is persistent regardless of when the focus is on aggregate or decomposed institutional factors. The impact of innovation on economic growth in most regressions is robust to different dimensions of innovation. Yet, the coefficients of the innovation variables in the two regimes are quite dissimilar. While most countries in the region have offered financial support in the form of budgetary allocations to strengthen institutions, barriers to the design and implementation of innovation policies may be responsible for the sluggish contribution of innovation to the growth pattern of the region.Originality/value: Segregating economies of Africa into two distinct regimes based on a threshold of investment in education as a share of GDP in order to understand the relationship between innovation and economic growth is quite novel. This lends credence to the fact that innovation as a multifaceted concept does not take place by chance – it is carefully planned. We have enriched the discourse of innovation and thus helped in deepening understanding on this contentious subject.

In this paper, we examine the causal relationship between aid inflows and economic growth for Ghana during the period from 1970 - 2013, taking into account structural breaks. To better reflect causality, corruption and trade are included as control variables. To test for causality in the face of cointegration, a vector error correction model (VECM) is used in place of a vector autoregressive (VAR) model. This approach is complemented with Toda and Yamamoto's method to indicate the causal direction. Our estimation results suggest GDP growth has one cointegrating vector relationship with corruption, EU aid inflows and trade in both the short and long runs. There is a long-run unidirectional causal relationship from EU aid inflows to GDP growth and a short-run unidirectional causal relationship from trade to GDP growth. Corruption (which is a governance issue) was ineffective in inducing GDP growth. The error correction terms are the source of causation in the long run. The results indeed confirm the popular conjecture that corruption in Ghana is endemic and stifles development. Therefore, the decision by the government to launch a national anti-corruption campaign in 2011, though long overdue, was justifiable. We urge all stakeholders to work together to deepen good governance to promote sustainable growth and serve as inducement for continued aid inflows from multilateral donors to sustain efforts at achieving the national development thrust of poverty reduction and sustainable development in Ghana